Ardian has teamed up with FiveT Hydrogen to raise an initial €800m from investors, including Air Liquide, TotalEnergies and Vinci, for a newly created clean hydrogen infrastructure fund.
Ardian said its infrastructure arm has partnered with the clean-hydrogen enabling investment platform to create Hy24, the world’s largest clean hydrogen infrastructure investment platform.
Hy24, which seeks €1.5bn for its first fund, has received a €100m commitment each from anchor investors Air Liquide, TotalEnergies and Vinci as part of the initial €800m commitment received by the fund. Plug Power, Chart Industries and Baker Hughes are also joining Hy24 as anchor investors.
The joint venture partners said Asian industrial group Lotte Chemical and insurer AXA also plan to join the fund as anchor investors.
Companies including airport operator Groupe ADP, clean energy fuel cell solutions firm Ballard, French government-owned electricity company EDF and automotive supplier Schaeffler are also expected to commit to the fund.
The joint venture partners said Hy24’s first fund will be set up and managed as an impact fund with the aim to reduce global carbon emissions.
The target assets will be diversified across geographies (Europe, Americas and Asia) and value chains, from upstream projects like green hydrogen production to downstream projects like captive fleet and refuelling stations, the companies said in a joint statement.
Mathias Burghardt, the head of Ardian Infrastructure and member of Ardian’s executive committee, said at a time when the EU has announced a step-up in its climate ambitions, and just ahead of COP26, it is a great responsibility to lead such a platform.
“We were early backers of the renewables market, our platform reaching 7.5GW of heat and renewable capacity today, and it is clear to us that hydrogen is facing a similar trajectory. This collaborative partnership is exactly in line with how Ardian Infrastructure operates.”
Pierre-Etienne Franc, co-founder and CEO of FiveT Hydrogen, said through this partnership, FiveT Hydrogen expects to mobilise €15bn worth of investments as a catalyst for scaling up the industry at pace.
“The world urgently needs to accelerate the energy transition and reduce the carbon output of energy-intensive, hard-to-abate sectors like transport and industrial production.”
Swen Capital makes first hydrogen investment with Lhyfe stake
Swen Capital Partners, through the Swen Impact Fund for Transition (SWIFT), has backed renewable green hydrogen firm Lhyfe to raise €50m.
Lhyfe’s second fundraising round received capital commitments from SWIFT, Banque des Territoires and Lhyfe’s existing investors Noria, Ovive, Ouest Croissance, Océan Participations, and Vendée Energie.
This second €50m fundraising round will allow Lhyfe to strengthen its deployment and R&D teams.
Olivier Aubert, managing director at Swen Capital Partners, said: “We are delighted to make our first hydrogen investment with Swen Impact Fund for Transition as we deeply believe that hydrogen technologies can bring impactful solutions to the fight against climate change.
“With Lhyfe, we are investing in a company with a proven technology and a capacity to innovate furthermore to tackle the challenges that we face ahead.”
To read the digital edition of the latest IPE Real Assets magazine click here.
No comments yet